Northeast Bancorp (NASDAQ:NBN) Sees Large Volume Increase – What’s Next?

Shares of Northeast Bancorp (NASDAQ:NBN) saw unusually-strong trading volume on Wednesday . Approximately 57,393 shares traded hands during mid-day trading, a decline of 48% from the previous session’s volume of 111,382 shares.The stock last traded at $119.4170 and had previously closed at $117.57.

Analysts Set New Price Targets

A number of equities analysts have recently commented on NBN shares. Keefe, Bruyette & Woods increased their price target on shares of Northeast Bancorp from $120.00 to $128.00 and gave the stock a “market perform” rating in a report on Wednesday, April 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Northeast Bancorp in a report on Monday, May 4th. Piper Sandler started coverage on shares of Northeast Bancorp in a report on Monday, March 16th. They issued an “overweight” rating and a $133.00 price target on the stock. Finally, Wall Street Zen raised shares of Northeast Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $130.50.

Northeast Bancorp Stock Performance

The company has a current ratio of 1.13, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. The company’s fifty day moving average is $117.90 and its 200 day moving average is $109.22. The company has a market cap of $1.02 billion, a P/E ratio of 10.65 and a beta of 0.59.

Northeast Bancorp (NASDAQ:NBN) last released its earnings results on Monday, April 27th. The financial services provider reported $3.53 EPS for the quarter, beating the consensus estimate of $3.00 by $0.53. Northeast Bancorp had a net margin of 25.96% and a return on equity of 18.63%. The company had revenue of $66.62 million for the quarter, compared to analyst estimates of $61.49 million.

Northeast Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, May 26th. Investors of record on Tuesday, May 12th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Tuesday, May 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. Northeast Bancorp’s dividend payout ratio (DPR) is currently 0.34%.

Institutional Investors Weigh In On Northeast Bancorp

Several institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in Northeast Bancorp by 161.6% during the 1st quarter. Bank of America Corp DE now owns 39,929 shares of the financial services provider’s stock valued at $4,487,000 after buying an additional 24,668 shares during the period. Royal Bank of Canada boosted its position in Northeast Bancorp by 303.5% during the 1st quarter. Royal Bank of Canada now owns 1,251 shares of the financial services provider’s stock valued at $141,000 after buying an additional 941 shares during the period. Quantinno Capital Management LP boosted its position in Northeast Bancorp by 116.3% during the 1st quarter. Quantinno Capital Management LP now owns 28,071 shares of the financial services provider’s stock valued at $3,154,000 after buying an additional 15,096 shares during the period. Inceptionr LLC purchased a new stake in Northeast Bancorp during the 1st quarter valued at $312,000. Finally, Sei Investments Co. boosted its position in Northeast Bancorp by 82.5% during the 1st quarter. Sei Investments Co. now owns 35,272 shares of the financial services provider’s stock valued at $3,964,000 after buying an additional 15,944 shares during the period.

About Northeast Bancorp

Northeast Bancorp is a Maine-based bank holding company and the parent of Northeast Bank, a state‐chartered commercial bank headquartered in Lewiston, Maine. Through its subsidiary, the company provides a variety of financial services, including personal checking and savings accounts, residential mortgage lending, small business and commercial loans, treasury management and private banking services. The bank operates a branch network spanning central and southern Maine, serving individuals, families and local businesses across the region.

Founded in 1872 as Androscoggin County Savings Bank, the institution has evolved through mutual and stock conversions, adopting the Northeast Bank name in 2001 and forming Northeast Bancorp as its mutual holding company in 2013.